A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 1.Please click...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were generally weaker on the morning of Wednesday September 1, in the face of further evidence of a slowdown in manufacturing activity. Chicago's manufacturing purchasing managers' index (PMI) fell to 66.8 in August from 73.4 in July China's Caixin manufacturing PMI also showed contraction with a fall to 49.2 in August,...Read More
Almost all London Metal Exchange base-metals prices fell under pressure at the end of the day on Wednesday September 1, to start the new month on the back foot following a small pickup in prices in the last week of August.The base-metals complex came under pressure on Wednesday morning after the release of the Chinese Caixin manufacturing purchasing managers' index (PMI). This dropped to 49.2 in A...Read More
Prices for steel hollow sections in Europe remained steady on Wednesday September 1, and trading remained thin ahead of a possible downward trend, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,654-1,690) per tonne on Wednesday, unchanged week on week.With market participants returning after the sum...Read More
Swedish steelmaker SSAB is to deliver fossil-free steel to automotive producer Mercedes-Benz AG for use in prototype parts for its vehicles, SSAB announced on Wednesday September 1.The two companies will work together in a partnership to use the fossil-free steel in automotive production, with the first trial for body car parts made from the steel planned for 2022.Mercedes-Benz said that by the ye...Read More
Angola's first cargo of iron ore lump was finally shipped out of southwest Africa in early August after a lengthy delay, according to Jamie van Reijendam, general manager of global trade at London trading house Ronly.The 60,000-tonne shipment of 60% Fe Cutato lump was loaded onto the vessel MV Desert Dignity from the Sacomar terminal in Port Namibe, bound for a consumer in northern China, Van Reij...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 1 that are worth another look.Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov.Chile's...Read More
Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov."I do not forecast any export duties for the next year. I do not see any grounds for that because prices started to decline and markets are cooling down, Evtukhov said on the sidelines of a panel discussion...Read More
Prices for steel hollow sections in Europe remained steady on Wednesday September 1, and trading remained thin ahead of a possible downward trend, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,654-1,690) per tonne on Wednesday, unchanged week on week.With market participants returning after the sum...Read More
Following a one-month consultation, Fastmarkets is updating the wording of its Metals & Mining assessment methodologies to provide greater clarity around how its prices are determined. The wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices and as such are not anticipated to result in any noticeable changes in Fastmarkets' assessment price levels or beha...Read More
The low-carbon ferro-chrome market in Europe surged to a new multi-year high in the week ended Tuesday August 31, with export taxes and tight supply driving up prices.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, rose to $2.73-3.05 per lb Cr on Tuesday, up by 15-35 cents per lb (9.5%) from $2.38-2.90 per lb Cr on August 17."The low-carbon ferro-chrome...Read More
Following a one-month consultation, Fastmarkets is updating the wording of its Metals & Mining assessment methodologies to provide greater clarity around how its prices are determined. The wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices and as such are not anticipated to result in any noticeable changes in Fastmarkets' assessment price levels or beha...Read More
Domestic prices for cold-rolled coil in Europe were stable in the week to Wednesday September 1, supported by full order books at producers, sources have told Fastmarkets.Sentiment among buyers, however, has been negative due to a combination of competitive import offers, expected low demand from the automotive sector and sufficient stocks at distributors.A continuing shortage of semiconductors ha...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 1 that are worth another look.Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov.Chile's...Read More
Sentiment in the European market for steel heavy plate was downbeat in the week to Wednesday September 1 due to declines in both the costs for raw materials and semi-finished steel prices, sources have told Fastmarkets.Competitive offers from Central Europe also contributed to the negative mood in the market.Fastmarkets' price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was u...Read More
Chile's state-owned copper producer Codelco has removed the threat of strike action by signing a final labor deal with the unions representing employees at its El Teniente division.The new terms of the labor agreement will be in place until the end of 2024, the company said on Tuesday August 31.Codelco had reached an agreement with the El Teniente and Caletones unions on August 28, but the deal no...Read More
The alumina price in the Atlantic is likely to trade at a higher premium compared with the Pacific in the near term due to refinery disruptions and high freight rates, according to Duncan Hobbs, research director at trading house Concord Resources.A fire in late August at the Jamalco alumina refinery, which produces 1.5 million tonnes of material per year, is costing the market 95,000-100,000 tonn...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 1 that are worth another look.Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov.Chile's...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 1 that are worth another look.Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov.Chile's...Read More
Following a one-month consultation, Fastmarkets is updating the wording of its Metals & Mining assessment methodologies to provide greater clarity around how its prices are determined. The wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices and as such are not anticipated to result in any noticeable changes in Fastmarkets' assessment price levels or beha...Read More